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Some traders do not like to see their P&L during the day. Others prefer to track or think in “ticks” so they do not have any psychological impact when trying to scale up and that makes sense. However, I have always found it as a very functional tool when trading multiple contracts to see the actual risk per trade.
If you right click the “Columns” property in the NinjaTrader 8 DOM then you can see how the p&l changes per tick for multiple contracts. You can open contracts on SuperDom Sim101 account too– if you just want to see how an unfamiliar instrument tracks and that takes me to my next tip.
While you should always rehearse how to place trades and the operational characteristics of your software in the simulator, it is possible even so to forget certain rare operations in stress of trading or if using multiple platforms. A quick way to save or figure things out is to open another Super DOM up in SIM mode to figure out the details.
The author is passionate about markets. He has developed top ranked futures strategies. His core focus is (1) applying machine learning and developing systematic strategies, and (2) solving the toughest problems of discretionary trading by applying quantitative tools, machine learning, and performance discipline. You can contact the author at curtis@beyondbacktesting.com.
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